Financial Services
- Stockholm - financial capital of Scandinavia
- Major growth sector
- One of the largest stock and derivatives exchanges in Europe
- Diverse range of foreign banks and financial service companies
A major growth sector
The financial sector is a national growth sector. Much of the activity is concentrated to Stockholm, where four of Scandinavia’s largest banks have their headquarters and Nasdaq OMX also has major operations. Nasdaq, the US stock exchange operator, acquired Sweden’s OMX, owner and operator of stock exchanges in six countries in the region, in 2007.
Stockholm offers a pool of highly skilled professionals in the field as well as prominent research. The financial services sector in the city employs 50,000 people in 2,150 companies. There are three universities at the forefront of the finance, economics and business fields.
Opportunities in banking
Stockholm serves as a typical base for corporate banking activities in Northern Europe, which is natural given the significant presence of corporate headquarters nearby and the importance of Sweden’s financial services industry. There are opportunities in retail and private banking – growing market segments traditionally served by Sweden’s four largest banks. The fact that Swedes are the world’s most advanced users of online banking services facilitates market entry.
Growth in insurance
The insurance sector is also enjoying strong growth, particularly in private healthcare. This is a result of an aging population and longer life spans and affects both corporate and private insurance. As in banking, the insurance market is dominated by a handful of companies.